Williams Announces Earnings Capital Expenditure Guidance
- Midpoints of Recurring Adjusted EPS Ranges Show One-Year Growth of 63%, Two-Year Growth of 127%Projections Based on Gas Price Range Midpoints of $5.75 and $6.50 per MMBtu for 2010, 2011; NGL Margin Midpoint of $0.51 per GallonTULSA, Okla., Sept. 10 /PRNewswire-FirstCall/ -- Williams (NYSE: WMB) today announced its initial earnings and capital expenditure guidance for 2010 and 2011. The company is also updating its full-year 2009 guidance.
"Our outlook for 2010-11 demonstrates the earnings power of our natural gas businesses. We are forecasting sharply higher profitability over the next two years based on our expectations for energy commodity prices, which are consistent with recent forward market prices," said Steve Malcolm, chairman, president and chief executive officer. "By 2011 we expect to be approaching the record-level earnings and value creation we achieved during 2008, even though price assumptions are well below 2008 levels."
The increase in the lower end of the 2009 earnings guidance range reflects improvements in the Exploration & Production and Midstream results for the remainder of the year. The slight increase in 2009 capital expenditure guidance reflects the addition of $275 million associated with the recently announced acquisition of additional properties in the Piceance Basin.
The company's assumptions for certain energy commodity prices for 2009-11 and the corresponding guidance for the company's earnings and capital expenditures are displayed in the following table.
$USD 329.00
$USD 329.00
$USD 329.00
